Counterpane Internet Security Secures $20 Million In Series D Funding

[R. A. Hettinga]

http://www.counterpane.com/pr-seriesd.html



COUNTERPANE INTERNET SECURITY SECURES $20 MILLION IN SERIES D FUNDING
Comcast Interactive Capital & Meritech join with existing investors  to
accelerate Counterpane's growth

CUPERTINO, Calif., January 14, 2003 - Counterpane Internet Security, Inc.,
developer and acknowledged leader of Managed Security Monitoring (MSM)
services, today announced the closing of its Series D round of financing.
Led by Comcast Interactive Capital and Meritech Capital Partners, the round
also included existing investors Accel Partners, Bessemer Venture Partners,
Dell Ventures, Morgan Stanley Venture Partners, and Symphony Technology
Group.

Counterpane achieved a record quarter for new bookings in Q4, 2002 and the
company will use these funds to accelerate the growth of the business
through continued investments in sales, marketing & service delivery.

"Counterpane's services are delivering tremendous value to their
customers," said Samuel H. Schwartz, Senior Managing Director of Comcast
Interactive Capital.  "In an environment requiring awareness of and
responsiveness to increasingly complex IT security events, Counterpane
provides enterprises with up-to-date expertise and professional monitoring
to protect their networks. Counterpane's growth and strong relationships
with its customers, channel partners, and industry analysts convinced us
that Counterpane represents an excellent investment opportunity."

William J. Harding, Managing Member of Morgan Stanley Venture Partners
added, "In a very difficult climate for technology spending, Counterpane
continues to prove that managed security monitoring is a key priority for
business leaders concerned about protecting their corporate information."

"We were fortunate to find our round of funding oversubscribed," stated Tom
Rowley, President and CEO of Counterpane Internet Security, Inc.  "With the
added support of premier investors such as Comcast Interactive Capital and
Meritech, this funding will enable us to expand our leadership position and
capitalize on opportunities afforded by our strong balance sheet."

Samuel Schwartz has joined Counterpane's Board of Directors.

About Comcast Interactive Capital
Comcast Interactive Capital (CIC) is a venture capital fund focused on
broadband, enterprise and interactive technologies.  CIC is affiliated with
Comcast Corporation, a diversified global leader in cable, broadband
services, telecommunications, electronic commerce, and entertainment.
CIC's primary goal is to generate superior financial returns from private
equity investments in early-stage technology companies.  To achieve this
goal, CIC works to foster the success of its portfolio companies by
bringing to bear the unique resources, experience, and insight of both CIC
and the Comcast family of companies.  Additional information is available
at www.civentures.com.

About Morgan Stanley Venture Partners
Morgan Stanley Venture Partners is the venture capital affiliate of Morgan
Stanley Private Equity, a unit of Morgan Stanley (NYSE:  MWD), the global
financial services   firm.  Morgan Stanley Venture Partners manages a group
of private equity funds that invest in high growth companies, concentrating
on the information technology and health care industries.  Since its
inception in 1986, Morgan Stanley Venture Partners has managed over  $1
billion of capital commitments and has invested in over 140 emerging growth
companies.  For more information about Morgan Stanley Venture Partners
please visit www.msvp.com.

About Counterpane
Counterpane Internet Security, Inc., is the innovator and acknowledged
leader in providing Managed Security Monitoring (MSM) services.  MSM
combines people and technology to safeguard businesses.  Working from a
network of technically sophisticated Secure Operations Centers (SOCs) and
using progressive analysis tools, Counterpane has built the most advanced
analysis, correlation, detection, and diagnosis technology, comprising a
Sentry monitoring probe on the customer's network and the Socrates
knowledge base inside the SOCs.  Using this technology, Counterpane's
expert Security Analysts are able to detect security incidents-both
external intrusions and insider attacks-in real time, and tailor immediate,
effective responses for its customers.  The company is funded by Accel
Partners, Amerindo Investment Advisors, Inc., Comcast Interactive Capital,
LP, Bessemer Venture Partners, Dell Ventures, LP, Meritech Capital
Partners, LP, Morgan Stanley Venture Partners and Symphony Technology
Group. Headquarters are located at 19050 Pruneridge Avenue, Cupertino,
California, USA. Phone: 408.777.3600, Fax: 408.777.3601, Website:
www.counterpane.com .

###

Counterpane is a trademark of Counterpane Internet Security, Inc. All other
companies, brand names or products are trademarks or registered trademarks
of their respective companies.
 



-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'

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